Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks IPOs and placings
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
Oriole Resources confirms renewal of Senala licence
(Sharecast News) - West Africa-focussed gold explorer Oriole Resources announced the renewal of the exploration licence for the Senala gold project in Senegal on Monday.
The AIM-traded firm holds an 85% interest in Stratex-EMC, the holding vehicle for the renewed licence, which it said was integral to the Senala project.
AGEM Senegal Exploration, a wholly-owned subsidiary of Managem Group, recently completed a six-year investment, acquiring an approximate 59% beneficial interest in Senala.
Following the guidelines of the Senegalese Mining Code, the surface area of the licence was reduced by 25%, now covering 354.5 square kilometres.
To retain tenure over key prospects, particularly Faré and Madina Bafé, the licence area was divided into two blocks.
The new licence was valid for three years from 17 February.
Oriole Resources said it is currently conducting a spending review to confirm AGEM's percentage ownership.
Discussions were also ongoing regarding the next steps, including the formation of a joint-venture company and associated technical committee, finalisation of a work plan and budget, and a decision by Stratex-EMC on whether to contribute to the work costs or dilute its percentage ownership.
At 1045 BST, shares in Oriole Resources were up 19.39% at 0.39p.
Reporting by Josh White for Sharecast.com.
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity and Inclusion | Doing Business with Fidelity | Fidelity gender pay report | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Security | Statutory and Regulatory disclosures | Whistleblowing policy
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.
